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today. >>> now, still to come on the program, the latest gdp figures out of india have disappointed. we'll ask what it takes to boost growth now. >>> welcome back. these are your headlines. mario draghi turns up the heat on eurozone governments, says not to rely solely on the ecb. >> the crisis has shown that we were living in the fairy world in the sense that we underestimated our amount of our equilibrium. >> and a greek tee fault could be the end of the euro. and japan posts surprisingly strong industrial output in october and the government announces yet another stimulus package sending tokyo stocks to a seven month high. and president obama takes his case for tax hikes for the wealthy to the american people as the war of words between democrats and republicans over the fiscal cliff heats up. european markets not so much of a fairy world if we can use the draghi expression. a little higher. xetra dax leading the way up 0.3%. cac 40, ftse 100 on its heats. ibex 35 is lower. bond space shows pretty positive attitude, as well. yields falling in spain, italy again this morning. 5.35%, 4
also finished lower after the rba cut its growth forecast. most miners finished in the red. in india, the sensex still in action now lower by about 1%. but hopes of a stake sale. orient express hotels rejected the bid. investors cheered the news after they worry about the impact of the acquisition on its balance sheet. ross, back to you. >> i'll pick it up now. any euphoria the obama administration feels could be erased by the thought of getting obama'sed edagenda through and divided congress. you can get more at cnbc.com. china is awaiting their new government and apparently expressing their envy of the u.s. democratic process. plenty more at changing china.cnbc.com. and also on the website, iranian warplanes fired an unmanned u.s. drone in international air space according to the pentagon. a formal warning was sent to tehran you through diplomatic channels. if the drone were hit it could have forced retaliation from the u.s. so against this backdrop, we want to know which of these stories is most important for the months ahead or is it something else entirely that we're not yet foc
delhi. >> yes, there is trouble for walmart. it started operations in india in 2009. and this internal investigation is part of an investigation with the securities exchange commission. they decided to expand the scope of the internal investigation to look into operations in india and china. we understand from our sources that a team led by executives from kpmg as well as a law firm here in india and as of now, the chief financial officer along with another couple of key executives have been suspended. they've been asked not to report to work until this internal investigation is complete. this couldn't have come at a worst time because remember the india parliament has been given the go ahead as far as walmart being able to step up its stores here in india. so this is going to be another reason for the opposition parties to force the government into a possible reversal of the decision. so it's looking difficult for walmart at this point in time. we've tried to contact the company. they have confirmed the investigation is on. there is no time line that's been given by when they expect a
? >> one more story before we go. the bunnies are coming to india to leave people with? >> one more story before we go. the bunnies are coming to india. the country's first playboy club. but no short shorts. the club's operator says the iconic waitress bunny costumes will be redesigneded to meet indian sense abilities. the first clubs will open. >> your focus is short shorts. focus on a different are tkind shorts. the regulations have huge implications. people will be able to know which henk fudge funds have sho and why. >> there will be a lot more jobs discussion. we hope and you have good weekend whenever it starts. ♪ ♪ ♪ [ male announcer ] some day, your life will flash before your eyes. ♪ make it worth watching. ♪ the new 2013 lexus ls. an entirely new pursuit. >>> it is jobsfully. sandy couldn't disrupt this, the final employment report before election day. the road to recovery from sandy a little bit bumpy. power is slowly returning for some, but other areas could be dark for at least another week. and the gas lines, if you're not in the area, you have noed idea what this
of gold in their collective pockets. but they're not alone. china look set to overtake india as the world's top gold consumer this year. meanwhile, china's icbc bank says that within an economy on the mend, rising domestic income and new gold linked investment products in the offing, china's potential as a global gold haven is huge. even the pboc appears to be in on the act. the london bouillon market association says beijing may be mulling options to tack on more gold to its reserves soon. >> joining us now from hong kong, martin henekyp what is the diwali effect for gold and gold prices? >> demand has been quite reasonable as was mentioned despite the relatively weak indian economy and weak rupee. but you can't blame them if the rupee is very weak, what would you do if you don't have trust in the currency going forward. and we just had actually the indianville production figures out, they were weaker than expected, actually down for september 0.4%. negatively an expectation of 2.8%. and at the same time, the consumer prices rose by 9.75%. so somewhat of a stagflation there, but the econ
as far as the emerging market countries like india and china which have been the drivers for growth, and with the slow down coming in, nestle does 1k3ek9d that to ease just a bit. be he continues to be confident and very clearly suggesting that nestle will not sacrifice margins to go after volumes or market share. here's what paul volcker had to say in this exclusive interview. >> we're in for quite a few more year. the debt crisis in europe is not something that has been built overnight, so it won't be a solution overnight either. but also the positive trecnds ae there to stay. it is a dynamic that will be positive for a long time. i'm always an optimist. i think you have to be. >> and you're hoping the emerging markets will continue to drive growth. in fact that's the difference in comparison because it's really been your emerging market growth driving sales for you. but i want to pick up on that because we've actually seen in asia, africa, sales down. you also believe china because of the way the chinese economy has slowed down as not delivered as per your expectations or its tru
with a stable outlook for india. the agency mentioned a list of positives including india's high savings and investment rates, large diverse economy, but moody's did warn of credit challenges posed by india's weak infrastructure, high government debt and inflation. also under pressure partly due you to the country's strong reliance on imported crude. india is the world's fourthimpo may be some relief in sight. cnbc has more on the story live from new delhi. >> so this is a really big asset when talking about the field. field one will be producing 400,000 barrels a day. phase two producing 1 million barrels of oil every day. and conoco phillips announced an agreement for the $5 billion deal, but i would like to point out this deal is far from done. there are plenty of consortium partners when you're talking about it. for example shell, exxonmobile, all holding a a little over 16%. it will require all consortium partners. become when bp wanted to exit, in the end actually bought the stake, so we'll have to perhaps see a lot of work being done by conoco phillips to convince the partners to
a commercial hub linking markets in india and bangladesh with southeast asia. >> analysts say china will be paying close attention to this visit highlighting the delicate struggle for power being played out in this region. >> all we would have to do is add vietnam and it would be a very clear signal about china improving relations with allies. certainly it's going to be some that china will be paying close attention to. >> pepsi, coca-cola and ge have already begun to invest p about. >> ge is very excited about myanmar. we've been following it for a couple of years. big population. 60 million. large land mass. a lot of natural resources. so it was great to see the country begin to open up. >> what did you say to some of the critics, do you say myanmar hasn't opened up enough yet to encourage the kind of investment that ge is putting in to the country? >> i think problem and secretary of state clinton's visit shows the support from around the world. for continuing on the reform path. so i think they'll make it. it's probably not going to be as fast as everybody would like to see. but
and asian viewers today. still to come, india's parliament has opened its winter's session for what could be a tough first day back to business for the prime minister. we'll find out what opposition he faces from our correspondent in mumbai. we'll also find out why asian casinos are putting their chips on the table despite slow economic growth in the region. and obama saves cobbler, but many of his turkey friends will end up on the table today. we evaluate the cost of a thanksgiving dinner with a soft commodities expert. all of that and lent more coming up over the course of the next three hours. it's not just eurozone pmis. china's manufacturing activity expanded for the first time in more than a year this month. >> upbeat data today. according to the flash pmi, the country's manufacturing sector expanded in november coming in at 50.4. and that eat first time it went above the boom or bust level of 50 in 13 months. almost all the sub indices showed improvement. the output sub index also hit a 13 month high at 51.3. and the latest reading follows a series of data showing stronger exports
. analysts say the data shows china's growth slowdown may be bottoming out. over to india now where the picture is more clear. service sector growth slowed down in october to its slowest in six months. europe's recession and america's sluggish economy played a large role in cutting demand for india's services. the sector makes up 60% of the country's economic output. >> ministers and central bankers are meeting in mexico day one of the summit saw a focus in the debt woes and weighing's fiscal cliff. ministers pushed the u.s. to act decisively to solve the debt ceiling impasse calling it the biggest short term threat to global growth. also a key week for greece. today the government will present either new austerity package to parliament. yesterday they warned the country would be forced out unless the new spending cuts are passed. >> the european central bank is investigating whether they've broken their own lending rules. the central bank may have accepted t-bills as collateral that was ineligible. that means those banks may have to find a further 16 billion euros to put up as what
support to the aussie market. india sensex still on the move now shedding 0.4%. let's also take a look at shares of olam. the agricultural supply chain managers flipped over 10% earlier, but managed to recoup losses ending lower by nearly 8%. the stock was halted earlier this morning after muddy waters questioned its accounting methods. ross, back to you. >> thanks for that. we'll catch you a bit later. you're in europe, we're weight the to the down side by around about 6:4. not mar off the session low. but it comes after good gains yesterday. following strong moves in the u.s., as well. cac 40 down half a percent. weighed town by the moody's downgrade, although expected. and ibex done around 0.4%. french debt market, yields are up to 2.1%. treasuries slightly higher, but still below 6%. ten year bund yields slightly lower. so france is trading with the peripheral in that sense. euro-dollar, 1.2794 is where we stand, dipping slightly on on the back of the french downgrade. dollar-yen 81.26, but the yen has been down at acceseven mont lows. aussie dollar slightly weaker against the u.s.
to russia and they're looking at markets like india. but they've not given up on europe, which will remain its key engine for growth. the european story is more nuanced than the eurozone crisis growth headlines would suggest. in fact, solaris has picked up new business in finland and belgium and will do record sales in spain this year. solaris management considers the company as much european as it is polish and believes the block is strongest staying together. so if the eurozone were a bus, say, none of the passengers should be forced to leave before the ultimate destination is reached. just setting aside for a moment the issue of trade into germany, the polish economy is clipping along at about 2.4% this year. it's expected to slow into next year. so what exactly is the central bank going to do to offset some of that weakness in domestic demand. i'm very pleased to have with me yang, on the committee, and also an academic economist. thank you for joining us. the central bank has been criticized by some for not cutting sooner and more aggressively. and the key policy rate still sits at 4.
, particularly china and india are very attractive and now perceived as safer locations than before. >> and just a reminder did the trade link series, it's every monday 10:50 cet. how the financial crisis is affecting global trade and how you do business around the world. go to tradelinks.cnbc.com. >>> elsewhere in the u.s., congress returns from a thanksgiving break he with talks to resolve the fiscal cliff. with no action by lawmakers and president obama, around 600 billion in tax hikes a and spending cuts would take effect in january. republicans and democrats are still in odds over the cause to raise taxes on the wealthiest and cutting on programs like medicare. but both sides saying they're willing to compromise. >> you have to raise additional revenues. there are ways of doing that. >> republicans always put revenue on the table. democrats always promise to cut spending. we never cut spending. what i'm looking for is more revenue for entitlement reform. >> the house speaker has called for a short term fix to overt the fiscal cliff so congress can work on a bigger deal in 2013. they naed to
. india will report second quarter gdp figures. and one of china's oldest software developers king soft will announce it profit results. attendees are arriving at the qe-2 conference center in central london ahead of the presentation of lord justice levinson's report on uk press standards. you can see live shots of the arrivals. the long expected and wide ranging report into the culture practices and ethics of the press will be published at 1:30 p.m. london time. that's about 8:30 in the morning eastern time. it will be laid in both houses of parliament at that time and we'll be live outside the conference center later in the show. also still to come, pension funds seeking fresh investment ideas are turning to the credit market. what it means to retirement next. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on grounipping at fedex office. >>> welcome back. r
Search Results 0 to 13 of about 14